Mobilewave Group PLC Update on litigation (3989G)

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RNS Number : 3989G

Mobilewave Group PLC

28 June 2012

28 June 2012

MobileWave Group plc

("MobileWave" or the "Company")

Update on litigation

The Board of MobileWave wishes to update shareholders on the state of the bankruptcy proceedings against Mr. Devin Narang ("Narang"). Counsel representing the Company attended the Bankruptcy Division of the High Court in London yesterday. As the Company has previously advised shareholders, Narang had until Tuesday evening to file a defence to a bankruptcy order being made final. It transpired that his representatives had filed a defence which was debated at yesterday's hearing. His defence rests on whether the court has jurisdiction over him as he, despite being a British citizen, is non resident in the UK. His petition did not set out that he has a judgement against him for an outstanding payment to the Company.

Counsel for MobileWave is confident that the Company is in a very strong position with regard to a trial to hear this matter surrounding jurisdiction and Narang's place of residence. The Company will file a response to Narang's defence to the court by 4:30 on 18 July 2012 and, subject to the court's availability, this matter is being listed for the first open dates after October 2012.

While the Board is disappointed at yet another time delay, we believe that we have a strong case and Narang will finally have to appear in English Courts. Shareholders are reminded that we continue to pursue execution of the judgement we have against Narang in the Indian courts under the treaty of cooperation that exists between the United Kingdom and India and the next court date in this action is in August in Delhi.

The Board of MobileWave has consistently assured shareholders that it will pursue this matter to its final conclusion and recommits to that today.

Shareholders will be kept informed on progress with regard to the above matter and a further announcement will be made as soon as practicable.

For further information, please contact:

MobileWave Group plc [e-mail]

Rory Stear, Chairman

Charles Stanley Securities 020 7149 6000

Nominated Adviser & Broker

Dugald J.Carlean / Carl Holmes

This information is provided by RNS

The company news service from the London Stock Exchange

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